York Capital Management

Global hedge fund

York Capital Management

Company type| LLC
Industry| Hedge fund
Founded| 1991; 33 years ago (1991)
Founder| Jamie Dinan (CEO)
Headquarters| 767 5th Avenue, New York City, NY
International Offices in London, England, Hong Kong

Area served

| Worldwide
AUM| US$ 18.5 billion
(as of June 30, 2019)[1]
Website| http://www.yorkcapital.com

York Capital Management is a global institutional investment management firm with approximately $18.5 billion in assets under management as of June 2019.[1] The firm was founded in 1991 by Jamie Dinan.

York Capital is headquartered in New York City, with additional offices in London and Hong Kong. As of December 2012, York Capital was ranked as the 20th largest hedge fund in the world.[2]

In 2010, Credit Suisse acquired a 30% stake in York Capital for $425 million.[3][4]

## History[edit]

York Capital was founded in 1991 by Jamie Dinan and named after the street he was then living on, York Avenue.[5] Jamie Dinan started his career at the merger arbitrage firm Kellner DiLeo & Company.[5] In 1987, the market crashed and he lost his entire $600,000 in savings.[5] In 1991, he was able to raise $3.6 million from his former DLJ colleagues and started York Capital.[5] In 1993, his fund earned credibility with a 33.8 percent return and by 2000, the fund had over $610 million in assets.[5]

In February 2023, York Capital Management portfolio company American Car Center ended operations.[6]

## Investment strategies[edit]

York Capital uses a fundamental analysis, bottom-up approach to make its investments.[2] The firm focuses on three event-driven investing strategies: merger and acquisition transactions, distressed securities and restructuring opportunities and special situation equity investing.[4]

## York Capital Funds[edit]

Global Multi-Strategy Funds

* York Multi-Strategy
* York Select
* York Total Return

Distressed Opportunities Funds

* York Credit
* York Credit Income

Regional Multi-Strategy Funds

* York European Opportunities
* York Asian Opportunities[2]

## References[edit]

1. ^ a b "The largest managers of hedge funds (P&I Sep 2019)". No. Special Report Hedge Funds. United States: Pensions & Investments. Crain Communications Inc. 16 September 2019. Retrieved 15 October 2019.
2. ^ a b c "Hedge Fund Journal"
3. ^ "Wall Street Journal"
4. ^ a b "New York Times Deal Journal"
5. ^ a b c d e Bloomberg: "York Capital's Dinan Finds Value in Tel Aviv Funds, Tyco Duplex" By Richard Teitelbaum September 7, 2006
6. ^ Arroyo, Carmen (25 February 2023). "Subprime Auto Lender American Car Center Closes for Business". Bloomberg.com. Retrieved 25 February 2023.

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Hedge funds

Investment
strategy|

| Arbitrage /
relative value|

* Capital structure arbitrage
* Convertible arbitrage
* Equity market neutral
* Fixed income arbitrage / fixed-income relative-value investing
* Statistical arbitrage
* Volatility arbitrage

|

Event-driven|

* Shareholder activism
* Distressed securities
* Risk arbitrage
* Special situation

Directional|

* Convergence trade
* Commodity trading advisors / managed futures account
* Dedicated short
* Global macro
* Long/short equity
* Trend following

Other|

* Fund of hedge funds / Multi-manager

Trading|

* Algorithmic trading
* Day trading
* High-frequency trading
* Prime brokerage
* Program trading
* Proprietary trading

Related
terms|

| Markets|

* Commodities
* Derivatives
* Equity
* Fixed income
* Foreign exchange
* Money markets
* Structured securities

|

Misc|

* Absolute return
* Arbitrage pricing theory
* Assets under management
* Black–Scholes model (Greeks: delta neutral)
* Capital asset pricing model (alpha / beta / security characteristic line)
* Fundamental analysis
* Hedge
* Securitization
* Short
* Taxation of private equity and hedge funds
* Technical analysis

Investors|

* Vulture funds
* Family offices
* Financial endowments
* Fund of hedge funds
* High-net-worth individual
* Institutional investors
* Insurance companies
* Investment banks
* Merchant banks
* Pension funds
* Sovereign wealth funds

Governance|

* Fund governance
* Standards Board for Alternative Investments
* Managed Funds Association

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* List of hedge funds

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